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Cortex Announces Closing of $7 Million Bought Deal Financing

CALGARY, ALBERTA--(Marketwire
- March 30, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS
WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

(figures in Canadian dollars)

Cortex Business Solutions Inc. (TSX
VENTURE:CBX) ("Cortex" or the "Company") announces that it has closed its
previously announced bought deal private placement including the exercise of
the underwriters' option (the "Offering"). The Company sold 14,000,000 common
shares in full ("Common Shares"), at a price of $0.50 per Common Share
(the "Offering Price"), for aggregate gross proceeds of $7,000,000 pursuant to
the Offering.

The Offering was completed by a
syndicate of underwriters led by Stonecap Securities Inc., formerly CI Capital
Markets Inc. (the "Lead Underwriter") and including Wolverton
Securities Ltd. (together with the Lead Underwriter, the
"Underwriters"). In connection with the Offering, the Underwriters
received a cash commission equal to 7% of the total gross proceeds raised in
the Offering and an aggregate of 1,400,000 compensation warrants, each of which
is exercisable to purchase one Common Share at the Offering Price until March
30, 2012.

The Underwriters exercised their
option to purchase an additional 2,000,000 Common Shares at the Offering Price
prior to closing of the Offering resulting in additional gross proceeds to the
Company of $1,000,000.

Participation in this offering
included a lead order from Sprott Asset Management LP on behalf of certain
Sprott funds and managed accounts.

The net proceeds of the Offering
will be used for expanding marketing and business development in the United
States, sector expansion, working capital and general corporate purposes.

All of the securities issued
pursuant to the Offering are subject to a four month hold period that will
expire on July 31, 2010. The Offering has received conditional TSX Venture
Exchange ("TSX-V") acceptance but remains subject to final TSX-V
approval.

This news release does not
constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended, or any
state securities laws and may not be offered or sold within the United States
or to U.S. Persons unless an exemption from such registration is available.

About Cortex Business
Solutions Inc.

Cortex Business Solutions Inc. is an
industry leading service company that improves efficiencies, reduces costs and
streamlines procurement and supply chain processes for its customers. Accessing
the Cortex Trading Partner Network enhances the exchange of business critical
documents, such as purchase orders, receipts and invoices resulting in improved
cash flow management and business controls, while reducing day's outstanding
and administrative costs. Cortex is a low cost, low risk solution that can
be implemented quickly by leveraging its customers existing business
environment - evolving business. For more information please visit our website
at www.cortex.net.

Forward-Looking Statements

Statements
in this release relating to matters that are not historical facts which include
the use of proceeds from the Offering are
forward-looking statements. Such forward-looking statements may involve known
and unknown risks and uncertainties which may cause the actual results,
performances or achievements of the Company to be materially different from any
future results implied by such forward-looking statements. Forward-looking
statements are often, but not exclusively identified by words such as
"anticipate", "may", "expect", "plan",
"future", "continue", "intends",
"projects", "believes", "seek",
"budget", "estimate", "forecast",
"will", "predict", "potential",
"target", "could", "might", and other similar
expressions.

The Company
believes the expectations reflected in those forward-looking statements are
reasonable but no assurance can be given that these expectations will prove to
be correct and such forward-looking statements included herein should not be
unduly relied upon. The forward-looking statements included in this press
release are made as of the date of this press release and the
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities
legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release